“I’ve just been at it a long time,” he said of his investing. “I mean, just look at it, if I’d put that $114 in the S&P, I’d have $400,000 now.”

At age 11, during the first quarter of 1942, Buffett purchased three shares of Cities Service with $114. The stock fell from $38.25 to $27. When the stock climbed back up to $45 per share Buffett sold his position. Eventually, the stock soared to $202 per share.

Rather, if he had put that $114 into the S&P 500 at that time and reinvested the dividends, he would have made $400,000.